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Home My WebLink About1976-11-16; City Council; 3481-5; Plaza Camino Real Expansion Agreement-- AGENDA BILL NO. 3481-Supplement 30.5 DATE : November 16, 1976 DEPARTHENT : City Attorney Initial: Dept. €Id. C. c. Atty-T Mgr: _I Subject : Third Supplement to Agreement for the Expansion of the Plaza Camino Real Shopping Center Statement of ",he Matter At the present time all of Marron Road to its intersection with Jefferson is included as part of the new public parking area. The City Manager and the City Attorney, after negotia- tions with the May Company, have concluded that it is to the mutual advantage of all parties that a portion of Plarron Road, from its intersectionwith ?Ionroe, to its intersection with Jefferson, should be dedicated to the City as a public street. As a result, the City Manager is recommending a Third Supple- ment amending the agreement to adopt a revised site plan for the Center showing the above-referenced portion of Marron Road as a City street and making the necessary corresponding changes to the agreement. Exhibits Resolution No. el/d#& approving Third supplement to the Agreement. Third Supplement to Agreement for the Expansion of the Plaza Carnino Real Shopping Center. Recommendation If the City Council concurs with the recommended change, your approving the agree- + action is to adopt Resolution No. ment and authorizing its execution by t e Mayor. Council action 11-16-76 Resolution isL4042 was ,adopted, approving the agreement and authorizing the Mayor to execute same. - RESOLUTION NO. 4042 A RESOLUTION OF 'I'HE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING A THIRD SUPPLEMENT, AMENDING THE AGREEMENT BETWEEN THE CITY OF CARLSBAD, THE PARKING AUTHORITY AND PLAZA CAb4INO REAL FOR EXPANSION OF PLAZA CAMINO REAL REGIONAL SHOPPING CENTER AND AUTHORIZING THE PWYOR TO EXECUTE SAID AGREE- MENT. The City Council of the City of Carlsbad, California, does hereby resolve as follows: 1. That that certain Third Supplement to Agreement dated November16, 1976, between the City of Carlsbad, the Parking Authority and Plaza Camino Real for expansion of the Plaza Camino Real Regional Shopping Center, a copy of which is attached hereto as Exhibit "A" and made a part hereof, is hereby approved. 2. That the Mayor of the City of Carlsbad is hereby authorized and directed to execute said agreement for and on behalf of the City of Carlsbad. PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council of the City of Carlsbad, California, held on the 16th day of November, 1976 by the following vote, to wit: AYES : Councilmen Frazee, Lewis, Packard, Skotnicki and NOES : None Councilwoman Casler KOBERT Lc&-- C. FRAZEE, Mayo9 ATTEST : (SEAL ) THIRD SUPPLEMENT TO AGREEMENT FOR EXPANSION OF PLAZA CAMINO REAL REGIONAL SHOPPING CENTER This Agreement is made this 16th day Of mmb&r , 197 I_ 6, by and between the City of Carlsbad, California (the The Parking Authority of the City of Carlsbad.(the "Parking Authority"), and Plaza Camino Real, a California limited partnership ("Developer"). WITNESSETH WHEREAS, The parties to this Agreement have heretofore entered into an Agreement dated November 5, 1975 for expansion of the Plaza Camino Real Shopping Center. said Agreement has been amended by a First Supplement thereto dated February 3, 1976 and by a Second Supplement thereto dated May 11, 1976. The Parties wish to further amend said Agreement in the manner hereinafter set forth. f NOWp THEREFORE, the parties hereto agree as follows: 1. Attached to this Third Supplement as Exhibit A and made " a part hereof is a site plan prepared by Shuirman-Rogoway & Associates and bearing a last revision date of . The site plan attached to this Third Supplement is hereby substituted for the site plan attached as Exhibit A to said Agreement. The term "Site Plan", as used in said Agreement, shall be deemed to refer to ' the site plan attached to this Third Supplement. The substitution of the site plan attached to this Third Supplement for the site plan - attached as Exhitit A to said Agreement supersedes the similar sub- _- stitution made pursuant to the Second Supplement to said Agreement. 2. Section 2.2 of Article 2 of the Agreement dated November 5, 1975, for Expansion of the Pla'za Camino Real Regional Shopping, Center, is amended to read as follows: "2-2 Connection to Jefferson Street. To serve the New Public Parking Area, Developer shall construct a connection from Marron' Road in the Existing public Parking Area to Jefferson Street (hereinafter called the "Marron Road Extension"), which shall be located as shown on the site plan. The Mdrron Road Extension will include an appropriate realignment and traffic signalization at Jefferson Street at the Marron Road Extension - Jefferson Street intersection, Developer commenced construction of the Marron Road Extension in June, 19'76. Developer shall forthwith dedicate or cause to be dedicated the portion of the Marron Road Extension from proposed Monroe Street to and in- cluding the Marron Road Extension - Jefferson Street intersection, as shown on the site plan, The balance of the Marron Road Exten- sioi w,i11 be part of the New Public Parking Area. 3. Section 2.5 of Article 2 of the Agreement dated November 5, 1975, foruExpansion of.the Plaza Camino Real Regional Shopping Center, is amended to read as follows: "2.5 Conveyance of New Public Parking Area, Upon completion of the New Public Parking Area, but prior to its use as a parking facility, Developer shall cause the New .Public Parking Area (i.e, land plus the paving and other improve- ments thereon) to be conveyed to the Parking Authority by grant deed, and the Parking Authority shall accept this conveyance, The :- grant deed shall contain provisions similar in substance to those set out in the grant deed dated October 21, 1969,-and- recorded-on- - October 21, 1969, with the San Diego County Recorder as Document .~ - 2- . ... - .; .. c NO. 193480 whereby Developer conveyed the .existing public parking area to the Parking Authority. Upon the opening for business of the Sears and Bullock's department stores and a majority of the new mall stores, when City has received and accepted the agreements contemplated by Section 2.4 of this Agreement, after the Parking Authority has sold bonds in accordance with Section 3.1 of this Agreement, and after the Lease and Maintenance Agreements have been executed in accprdance with Sections 2.6 and 2.7 of this Agreement, the Parking Authority shall pay Developer as consideration for the conveyance and the improvement of the Marron' Road Extension and dedication of a portion thereof pursuant to Section 2.2 of this Agreement an amount equal to the net . proceeds of the bonds sold in accordance with Section 3.1 of this Agreement . " In the event that the Sears and Bullock's department stores and the majority of other mall stores are not open for busi-. ness within two years after completion of the New Public Parking Area, the Parking Authority shall. reconvey the New public Parking Area to Developer and this Agreement shall terminate. IN WITNESS WHEREOF, the City, the Parking Authority and Developer have signed this Third Supplement to Agreement as of the day and year first above .written. ATTEST: CITY OF CARLSBAD . ATTEST: THE PARKING AUTHORITY OF THE CITY CARLSBAD, CALIFORNIA c, ATTEST : PLAZA CAMINO REAL, a limited By: The May Stores. Shopping Centers, Inc. partnership, .. its General Partner .. APPROVED AS TO FORM: Biondo,’ &I. City Attorney -u 1 f -4-